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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessStocks Softer For a Second Session
- Equity markets traded negatively for a second consecutive session on Friday, pressuring futures and putting the e-mini S&P within range of the first key support at the 4446.7 200-dma. Losses were more acutely felt among growth and tech names, putting the NASDAQ-100 lower by as much as 1%.
- Weakness across global equity markets followed Thursday's red-hot CPI, which keeps the prospect of a protracted Fed tightening cycle top of mind for US investors. This put the tech sector comfortably at the bottom of the S&P 500, with value names outperforming.
- A recovery for WTI and Brent crude futures helped underpin a rise for the energy sector, explorers and services firms were the main beneficiaries, putting the likes of Baker Hughes, Phillips 66 and Valero Energy higher by as much as 5%.
- S&P E-minis failed to hold above the 50-day EMA - at 4561.44. This average continues to provide a firm resistance and a clear breach of it is required to suggest scope for a stronger rally that would open 4671.75 initially, Jan 18 high.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.